Tag - Nmrx

The Russell 2000 (NYSE: IWM) and the other major U.S. indices are posting declines as investors worry about the future of the economy.

At 10:46 a.m. ET, the small-cap index had lost 10.38 points, or 1.39%, to 738.95. The Dow Jones Industrial Average (INDU) had shed 145.91 points, or 1.12%, to 12,864.23.

Stocks began the day with a drop as investors reacted to news that the U.S. Federal Reserve lowered its growth outlook for the U.S. economy.

On Tuesday the Fed forecasted that growth will slow in 2008 and unemployment will creep up slightly as rising energy prices and the ongoing slump in the housing sector take their toll. Inflation is projected to remain in check.

In other economic news, the Labor Department reported before the opening that jobless claims for the week ended Nov. 17 decreased 11,000 to 330,000 from the previous week’s upwardly revised level of 341,000.

The four-week moving average, considered a more stable measure, fell 750 to 329,750 from 330,500 a week earlier.

The numbers tell us that labor markets are still fairly tight.

MidWestOne Financial Group, Inc. (Nasdaq: OSKY), Cardica, Inc. (Nasdaq: CRDC) and Telular Corp. (Nasdaq: WRLS) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers: